Brokers in Europe, Wall Street London, and New Zealand issued repeated forewarnings as FXCM had to be bailed out and Alpari of the United Kingdom going into liquidation in New York. It was a nightmare for the currency industry.
On second thought, the implications of the bewildering move of the SNB that resulted into the USD/CHF and EUR/CHF posting the biggest ever one day movement in more than 20 years. The second-biggest act was also done by the SNB in September 5, 2011 when it jolted markets by originally pegging the euro against its own franc. If you try to review these years and the financial downturn during that period, these close to unparalleled decisions moved markets to the brink of disaster.
This can be called an unmistakable case of a leading central blank giving way due to market strains in the era of post Quantitative Easing. Market investors have become used to hard-line policies courtesy of the US Fed, European Central Bank, Bank of England, and other eminent financial institutions. These are allegedly made to deal with financial as well as economic issues worldwide.
The bottom line is the damage has been done and the industry blemished. Major stakeholders suffered a great deal. Yet, there were brokers that seemed to be ready for such upheavals.
Take the case of UFX.COM.
UFX.COM has resorted to automated solutions to deal with these problems. Traders working with this provider do not lose funds that are more than what they deposited to secured bank accounts.
UFX.COM never touches traders’ money to answer for loses in case similar concerns crop up.
UFX.COM Managing Director Dennis de Jong said that state of the art technology of UFX.COM covers traders the precarious state of the currency market. Investors are protected all throughout industry ups and downs.
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